Morgan Stanley analyst Brian Nowak maintained a Buy rating on Facebook (FB) today and set a price target of $270.00. The company’s shares closed last Thursday at $244.50, close to its 52-week high of $247.65.
According to TipRanks.com, Nowak is a 5-star analyst with an average return of 11.9% and a 69.6% success rate. Nowak covers the Technology sector, focusing on stocks such as Uber Technologies, Pinterest, and Alphabet.
Facebook has an analyst consensus of Strong Buy, with a price target consensus of $250.77, a 2.4% upside from current levels. In a report issued on June 24, Goldman Sachs also maintained a Buy rating on the stock with a $265.00 price target.
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Based on Facebook’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $17.74 billion and net profit of $4.9 billion. In comparison, last year the company earned revenue of $15.08 billion and had a net profit of $2.43 billion.
Based on the recent corporate insider activity of 174 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Facebook, Inc. operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online. The firm’s products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. The company was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park, CA.
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